SoFi Invest vs Saxo Bank

SoFi Invest vs Saxo Bank Comparison Table 2023
SoFi Invest Review 2023	Saxo Bank Review 2023
Review 3.8 SoFi Invest is #36 in our broker rankings.	Review 4
Traders from US accepted	Traders from US not accepted See available CFD brokers
SoFi Invest is an American wealth management and robo advisory service, providing equity and cryptocurrency investment portfolios with competitive fees. The firm is heavily regulated and registered with the SEC and FINRA. First launched in 2011, the firm has attracted millions of clients and various awards.	Saxo is a multi-award-winning trading brokerage, investment firm and regulated bank. With a huge 72,000+ trading instruments, plus investment products and managed portfolios, clients have no shortage of opportunities. The trusted brand also offers transparent pricing and top-tier regulatory protection from 10+ agencies including FINMA, FCA & ASIC.
	66% of retail accounts lose money.
Comment by Reviewer
"SoFi Invest is a good stop for investors who want automated assistance with their stock and ETF investment decisions. The fractional shares and no minimum deposit will appeal to newer traders in particular."	"Saxo is best for active traders and advanced investors with an unrivalled selection of instruments alongside premium market research and fee rebates. The 190 currency pairs with tight spreads also make Saxo great for forex traders."
Pros
Can be tethered to other SoFi accounts, including SoFi Loans, SoFi money accounts and SoFi credit cards Robo advisors can make investments according to user-defined goals and risk appetite Straightforward platform makes investing easier for beginners More than 4000 US stocks and ETFs with no commission Start investing in fractional shares for as little as $5 Access to a free on-demand financial advisor Automated dividend reinvestments Users can participate in IPOs SEC- and FINRA-regulated No minimum deposit	Powerful proprietary trading platforms with comprehensive charting packages and advanced analysis tools High-level research hub with curated market reports, plus unique insights with 'Outrageous Predictions' Excellent educational resources including podcasts, webinars and expert-led video insights Access to comprehensive third-party analysis tools including TradingView and Updata Highly accessible and flexible ISA account with no entry or exit fees Heavily regulated and trustworthy brand based in Switzerland Low fees with premium account tiers
Cons
Basic portfolio reports with individual investment numbers only and no charts Limited order types (no stop-losses) Not much data supplied for securities Commissions on crypto trades Only six ETFs available No tax-loss harvesting Long withdrawal times	High deposit requirements for trading accounts Access to Level 2 pricing requires a subscription Clients from some jurisdictions not accepted including the US and Belgium
Instruments
Stocks, Crypto, ETFs	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Futures, Options, Warrants, Crypto
Demo Account
No	Yes
Minimum Deposit
$0
Trading Platforms
Own	TradingView
Payment Methods
ACH Transfer Wire Transfer	Credit Card JCB Card Mastercard TransferWise Visa Wire Transfer
Minimum Trade
$0	Variable
Regulator
SEC, FINRA	FCA, DFSA, MAS, SFC
Margin Trading
Yes	Yes
STP Account
No	No
ECN Account
No	Yes
DMA Account
No	No
MAM Account
No	No
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	No
Robo Advisor
No	No
Negative Balance Protection
No	No
Market Maker
No	No
P2P Trading
No	No
Spot Trading
Yes	Yes
Mobile Apps
iOS & Android	SaxoTraderGo (iOS, Android, Windows)
Auto Trading
	Excel Automation via OpenAPI
Copy Trading
No	No
Social Trading
Yes	No
Trade Signals
	Yes
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Islamic Account
No	Yes
Account Currencies
USD	USD EUR GBP CAD AUD JPY SEK DKK CHF
Stock Exchanges
New York Stock Exchange	London Stock Exchange New York Stock Exchange S&P 500 Shenzhen Stock Exchange Toronto Stock Exchange
Commodities
	Copper Corn Gold Natural Gas Oil Silver
CFD Trading
CFD trading not offered	Saxo Bank offers a secure and reliable way to trade 8,800+ CFDs spanning forex, stocks, indices, commodities, options and bonds. The broker's extra features include a trading academy, powerful charting and analytical tools and trading signals, helping it stand out from many alternatives.
Leverage
	1:30 (Retail), 1:66 (Pro)
FTSE Spread
	1.2 pts (Variable)
GBPUSD Spread
	0.7 (var)
Oil Spread
	0.03
Stocks Spread
	0.10% (subject to min commission)
Forex Trading
Forex trading not offered	With around 190 forex pairs and spot metals, 140 forwards, top-tier liquidity, fast execution and spreads from near zero, Saxo Bank offers exceptional flexibility and value to forex traders. Advanced charting from TradingView is another plus for active forex traders.
GBPUSD Spread
	0.7 (varies by region)
EURUSD Spread
	0.2 (varies by region)
EURGBP Spread
	0.6 (varies by region)
Assets
	40+
Cryptocurrency
Trade 22 cryptocurrencies including Bitcoin, Binance Coin, Uniswap and Polkadot from as little as $10, making it a good pick for beginners. The broker charges a competitive 1.25% commission on crypto trades.	Saxo Bank offers BTC, ETH and LTC in CFD pairs against USD, EUR and JPY for shorter-term trades, as well as 12 funds tracking popular cryptocurrency price movements for longer-term trades.
Spread
N/A	Variable
Coins
BTC ETH LTC DOGE ADA DOT ALGO AAVE BNT BAT BCH LINK COMP ATOM MANA ENJ ETC FIL MKR MATIC SOL XLM SUSHI SNX XTZ GRT UNI YFI	BTC ETH LTC XRP XTZ SOL ADA DOT
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

Review	Review
	66% of retail accounts lose money.
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